Latest news with #ConsumerIntelligence
Yahoo
03-08-2025
- Business
- Yahoo
Quoted home insurance premiums fall amid increasing competition, study finds
Average quoted home insurance prices are falling as competition across the market rises, according to an index. Quoted premiums have typically fallen by 7.9% over the past year and by 3.9% over the past quarter, insurance market insights provider Consumer Intelligence said. Premiums were most commonly quoted between £150 and £199, with 29% of quotes falling within that range, according to Consumer Intelligence's data. In June, 62.5% of consumers could potentially source quotes for less than £200, compared with 56% a year ago, its study indicated. Laura Vas, senior insight analyst at Consumer Intelligence said: 'There is a greater array of choice for consumers – 75% of the best prices in the market came from nine brands in June 2025, up from six in the previous year.' Quoted premiums for under-50s households have typically fallen by 8.4% in the past 12 months, slightly ahead of a 7.3% drop for the over-50s, the report found. Looking at property types, quoted premiums for properties of all ages have typically fallen over the past year, with the biggest decreases at 9.5% for homes built between 1925 and 1940 and for those built between 1985 and 2000, it added. The research involved calculating changes in the averages of the five cheapest premiums on price comparison websites. Here are the average annual falls in quoted premiums across nations and regions in June, according to Consumer Intelligence: South West, minus 2.0% Scotland, minus 4.7% South East, minus 6.4% North West, minus 7.5% London, minus 8.4% Eastern England, minus 8.6% Yorkshire and the Humber, minus 9.0% East Midlands, minus 9.5% Wales, minus 10.4% West Midlands, minus 10.4% North East, minus 10.5%
The Independent
03-08-2025
- Business
- The Independent
Quoted home insurance premiums fall amid increasing competition, study finds
Average quoted home insurance prices are falling as competition across the market rises, according to an index. Quoted premiums have typically fallen by 7.9% over the past year and by 3.9% over the past quarter, insurance market insights provider Consumer Intelligence said. Premiums were most commonly quoted between £150 and £199, with 29% of quotes falling within that range, according to Consumer Intelligence's data. In June, 62.5% of consumers could potentially source quotes for less than £200, compared with 56% a year ago, its study indicated. Laura Vas, senior insight analyst at Consumer Intelligence said: 'There is a greater array of choice for consumers – 75% of the best prices in the market came from nine brands in June 2025, up from six in the previous year.' Quoted premiums for under-50s households have typically fallen by 8.4% in the past 12 months, slightly ahead of a 7.3% drop for the over-50s, the report found. Looking at property types, quoted premiums for properties of all ages have typically fallen over the past year, with the biggest decreases at 9.5% for homes built between 1925 and 1940 and for those built between 1985 and 2000, it added. The research involved calculating changes in the averages of the five cheapest premiums on price comparison websites. Here are the average annual falls in quoted premiums across nations and regions in June, according to Consumer Intelligence: South West, minus 2.0% Scotland, minus 4.7% South East, minus 6.4% North West, minus 7.5% London, minus 8.4% Eastern England, minus 8.6% Yorkshire and the Humber, minus 9.0% East Midlands, minus 9.5% Wales, minus 10.4% West Midlands, minus 10.4% North East, minus 10.5%
The Independent
03-06-2025
- Business
- The Independent
Over-50s ‘benefiting most' from falls in quoted car insurance prices
Quoted prices for car insurance have fallen by 10.8% over the past year but there are signs that the decrease could be slowing, according to an index. The research also indicated that the over-50s have benefited the most from price falls, with average quoted premiums for this age group falling by 16% over the past year while those aged 25 to 49 saw average prices fall by 9.7% and the under-25s experienced falls of 3.4%. The general trend across Britain was for quoted prices to decrease year-on-year, ranging from a 21.1% typical price fall in Wales to a fall of just 0.2% in London. The figures were compiled by financial services insights provider Consumer Intelligence, which looked at averages of the cheapest premiums on price comparison websites. London was the only region to record an increase in quoted premiums in the past three months at 2% but three other areas – Scotland, the East Midlands and West Midlands – recorded only marginal falls of 0.6% while the North East saw a 0.8% decrease. The most common quotes were for between £250 and £499, with 26% of quotes falling in this range, and 23% being between £500 and £749. Max Thompson, insurance insight manager at Consumer Intelligence, said: 'There was more stability in the motor market between February and April.' He said that 'competition remains strong' despite some signs of competitive premiums falling at a slower rate or even rising slightly month-on-month in April. The proportion of the top quotes that are from providers of telematics policies, which reward good driving behaviour, has remained stable in recent months, the report said. Here are the annual decreases in quoted car insurance prices in April 2025 followed by the three-month change, according to Consumer Intelligence: London, minus 0.2%, 2.0% Scotland, minus 6.0%, minus 0.6% North West, minus 8.9%, minus 2.7% East Midlands, minus 9.9%, minus 0.6% South East, minus 11.2%, minus 1.5% North East, minus 11.5%, minus 0.8% South West, minus 13.1%, minus 3.2% Eastern England, minus 13.8%, minus 2.2% West Midlands, minus 13.8%, minus 0.6% Yorkshire and the Humber, minus 14.7%, minus 2.1% Wales, minus 21.1%, minus 4.2%
